Course Details
Your Growth, Our Mission
Course Description
Many managers and executives have heard that ‘accounting is the language of business;’ yet have not taken the opportunity to become basically literate. This course offers the accounting language in a structured process. Participants will gain access to the language in a variety of exercises that eventually link to the Annual Reports and to the budgets prepared and managed by the executives. No preparation is necessary except to bring an open mind and a budget document or other financial documents of interest.
By combining techniques, analysis, problems, and examples with real case studies the course provides delegates with key cost awareness and budgetary skills, which is essential in managing and controlling processes/projects in times of increasing global competition where the budgets are inextricably linked with both strategy formulation and cost analysis.
The Training Course Will Highlight ?
. This course not only presents the key financial tools generally used, but also explains the broader context of how and where they are applied to obtain meaningful answers. It provides a conceptual backdrop both for the financial/economic dimensions of systematic business management and for understanding the nature of financial statements, analyzing data, planning and controlling.
The course is targeted at providing a university-quality ‘MBA’ overview of accounting, decision making, and financial communications. Participants are expected to be high-potential learners seeking the next level of learning. Additional bibliographies, readings, and spreadsheets will be provided as takeaways.
Training Objective
. This course not only presents the key financial tools generally used, but also explains the broader context of how and where they are applied to obtain meaningful answers. It provides a conceptual backdrop both for the financial/economic dimensions of systematic business management and for understanding the nature of financial statements, analyzing data, planning and controlling.
The course is targeted at providing a university-quality ‘MBA’ overview of accounting, decision making, and financial communications. Participants are expected to be high-potential learners seeking the next level of learning. Additional bibliographies, readings, and spreadsheets will be provided as takeaways.
Target Audience
This course is targeted for managers at all levels, consultants for already experianced who would like to develope their financial knowledge as well as for unexperianced who would like to gain basic information and has better understanding management roles.
Training Methods
Daily Agenda
The programmer Content
Day One
Accounting: An introduction
- What is accounting?
- What forms can accounting take
- Definition and importance of profit
- Decision scenarios explored
- Funding business operations
- Who is interested in profit?
- Cash vs. Accrual accounting
- Cash flow forecasting and improvement
- Accounting policies chosen by companies
- Accounting standards
Day Two
Financial Statements, Accounting Policies, and Reporting Standards
Income Statement – basic components
- Revenues & the questions
- Direct/variable/product costs
- Indirect/fixed/period costs
- Mixed costs
- Non-cash deductions: the what, the why & the how
- Depreciation: various methods explored
- Amortization: impairment test
- Depletion: when & how
- The difference between profit and cash
- A closer look at costs and expenses
- Profit calculations
- Summarizing profit statements and extracting the key figures
Balance Sheet
- Assets – current & long term
- Liabilities – current & long term
- Equity – components
- Capital employed - options
- Managing the working capital cycle
Cash Flow Statement
- Operating sources/uses
- Investing sources/uses
- Financing sources/uses
Day Three
Making and Communicating Decisions using Budgets
- The master budget
- The budgeting as a planning tool, a control mechanism, a communications device & value creation
- Budgeting Sales to “drive” the correct budget
- Operating budget components
- Financial budget
- Pro Forma Financial Statements
- Cash Budgets
- Capital budget
- Interrelationship of Financial Projections
- Dynamics and Growth of the Business System – a model review
- Flexible vs. traditional budgets – the pros & cons
- Variance analysis as a tool for improvement & communications
- Price and volume effects within variance analysis: state of the art
Day Four
Financial vs. Management Accounting: differences and similarities
- Objectives of Managerial Accounting
- Managerial Versus Financial Accounting:
- Role of the Managerial Accountant
- Financial accounting: what we show to the public
- Objectives of financial accounting
- Role of financial accountant
- Cost terminology: variable, fixed, controllable, non-controllable, incremental, sunk, opportunity, and relevant
- Cost behaviors in Cost-Volume-Profit scenarios: contribution margin and fixed costs
- Breakeven and targeted net income scenarios
- Cost/Benefit analysis
Day Five
Ultimatum Goal of Planning – Valuation, Business Performance & Decision Making
- Definitions of Value
- Responsibility centers: cost, profit, and investment
- Measuring responsibility center performance
- Segment reporting internally and externally
- Business Valuation from multiple perspectives
- Managing for Shareholder Value
- Shareholder Value Creation in Perspective
- Evolution of Value-Based Methodologies in planning and budgeting
Creating Value in Restructuring and Combinations beyond planning and reporting- the case for real change!
Accreditation
BTS attendance certificate will be issued to all attendees completing minimum of 75% of the total course duration.
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